Suppose a perfectly competitive market is in long-run equilibrium. If there is a permanent increase in demand,
A) at least in the short run, some firms will increase their output.
B) at least in the short run, the price will increase initially.
C) new firms will enter the market.
D) All of the above answers are correct.
D
Economics
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Tom, a government employee, has a defined benefit pension.He has worked for his employer for 35 years before retiring at age 65.His final salary was $85,000
Calculate how much of his final preretirement income a standard defined benefit pension plan would replace.
Economics
Usury laws interfere with the automatic workings of the market mechanism
a. True b. False Indicate whether the statement is true or false
Economics